What is Beercoin?

As a keg hire site, we think staying updated on the wider world of beer to be our job, wanting to ensure we have our finger on the pulse and provide our customers with a modern service time and time again. This is why we are slightly obsessed with the way in which technology is impacting the industry.

Today, we were intrigued to learn about Beercoin; a new cryptocurrency.

In essence, this is a loyalty scheme that rewards beer-drinkers who mine ‘Beercoins’. These can only be mined through a code found on bottlecaps and bar mats. The app will then store these codes and turn them into Beeercoins that can be used to buy beer, merch or exchanged for cold, hard cash.

CEO of the brand, Tobias Meyer, explains:

“The end user should be able to easily participate in a cryptocurrency, without having to bring the necessary technical expertise.

“Furthermore, they do not have to expose themselves to speculative risks, but can simply buy a beer.”

According to sources, the new German company will be initially launch 77,480,000,000 of these coins. This should cover a decade of trading and attract 10,000,000 users.

The company’s mission statement stated:

“Our goal is quite straightforward: We want to create the beer-based cryptocurrency.

“The beer market is a billion-dollar industry which has not seen many innovations in recent years and is currently decreasing in volume in many parts of the world.

“While the consumer base is shrinking a lot of new competition, in the form of craft beer breweries, is trying to find a solid foothold in the market.”

Are you a lover of all things beer?

If you are a fan of fine beer then you may well wish to explore the amazing beer keg hire services available at Party Keg Hire. With all sorts of lagers, ales, ciders, stouts and even wines up for grabs, your keg hire options are endless.